An Archive of News and Developments
The condition of the tourism industry in many nations all over the world is dire. Corporate companies are cutting business travels and holiday packages to their employees (in fact those are cutting the jobs itself), people apprehended with recession are in no mood to spend on tourism. To tell the exact situation, the industry is running on the travelers lured by discounts and offers. It is not the condition in any one nation, as I said before, many nations all over the world are facing it.
For example, tourism in Singapore fell by 13 percent in March 2009. As tourism is the main industry for revenues of the nation, the economy is definitely to get impacted with the gloomy numbers of the industry. The Singapore government estimates a 9 percent contraction in the economy of the nation.
Tourism in the Australia is facing a similar situation. The number of overseas visitors is estimated to fall by about 250,000. Even the few number of people who are visiting the nation are found to be spending cautiously and lesser.
Asia is not exempted from the situation. Hong Kong, for example, sees a drastic impact on its $20.4 billion (14.0 billion pound) tourism sector. Hotel room rates have dropped by 20 percent in Seoul and 30 percent in Manila.
Corporate Tourism business in Scotland declined by 30 percent.
However, there are still some cities like Shanghai, where hotel rates are higher than an year ago.
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